Market Flogging

Trend trading in the stock market

Saturday, October 21, 2006

Almost hit a milestone this week

I have almost reached "Stop Break Even" in my IRA portfolio. If all stocks were to stop out at my stop prices, I would now lose .08%. I thought I might get to a profitable situation after moving my stops this week, but not quite. Of course slippage makes the picture a bit worse. Assuming I don't have to add too many new positions next week, I should be in a profitable stop situation next weekend.

Net stop loss in my trading account is -1.92%, so pretty good there, too.

I added one new position to my IRA yesterday, GGC:








These are 1-year and 6-month charts. There is still some pressure from the long term downtrend line, but there is still room to run before we reach the line and my stop is less than 3%. Plus, the stock appears to have put in a bottoming "W" pattern in June following a huge volume three-day blowoff drop in price. We may be able to push past the downtrend line if we get that far.

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